LONGHUI INTL Plans HK$6 Million Acquisition of 51% Stake in Forward Progress Limited

Stock News04-29

LONGHUI INTL announced that on April 29, 2026, following trading hours, its wholly-owned subsidiary, Team Pacific Holdings Limited, entered into a sale and purchase agreement with the seller, Heshun Holdings. The agreement stipulates that the buyer will acquire a 51% equity interest in the target company, Forward Progress Limited, for a consideration of HK$6 million. The payment will be settled upon completion of the transaction through the issuance of a promissory note by the company. Following the transaction's completion, the company will hold a 51% interest in the target company. Consequently, the target company will become an indirect non-wholly-owned subsidiary of the company, and its financial performance, assets, and liabilities will be consolidated into the group's accounts.

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